LIPA announced it’s putting plans for the Caithness 2 power plant on hold.
The power plant was slated to be built next to the existing Caithness plant in Yaphank. Residents in the area want the project scrapped, saying it is not necessary.
LIPA says there is enough power to supply Long Island through 2018. However, an internal PSEG report claims Long Island can meet state energy requirements through 2022 without a second power plant.
LIPA also voted today to borrow $2.4 billion to pay for current projects and to help restructure some of its existing debt.